Malaysian palm oil sector reveals hottest prospects for overseas growth

Published 2022년 3월 1일

Tridge summary

The Malaysian Palm Oil Council (MPOC) is strategizing to expand its palm oil export markets beyond China and India, focusing on South East Asian, Middle Eastern, and African countries, as well as developed markets like Japan and Dubai. The council is targeting growth sectors such as foodservice and consumer cooking oil markets in Vietnam and the Philippines, and the HORECA and food production sectors in the Middle East and Africa. To achieve this, MPOC plans to engage with stakeholders through various activities and platforms, believing that palm oil export diversification is key to moving beyond current market stagnation.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

When we spoke with the Malaysian Palm Oil Council (MPOC) last year, CEO Datuk Dr Wan Zawawi Wan Ismail had already shared the council’s plans to move beyond China and India – Malaysia’s current top export destinations for palm oil – in order to diversify the country’s export markets. “The current palm oil market has only two major palm oil exporters with Indonesia taking about 70% and us taking about 26% to 27%, and it has been this way for some time now. [If] we don’t diversify our export markets and find new markets to break into, this will remain forever stagnant and Malaysia will never move beyond this 27%,” he told FoodNavigaotr-Asia. “So we need to diversify to break away from traditional markets and this stagnation, and although India and China remain very important markets to us and will continue to be a focus, we are also focusing energies on other parts of the world.” According to MPOC Director for Marketing and Market Development Faisal Iqbal, some of the key ...

Source: Food Navigator Asia